Stories tagged: "small businesses"
President Donald Trump will be holding a signing ceremony Friday for a bill providing a nearly $500 billion infusion of coronavirus spending, rushing new relief to employers and hospitals buckling under the strain of a pandemic that has claimed almost 50,000 American lives and one in six U.S. jobs.
The Paycheck Protection Program promises a business owner loan forgiveness if they retain or rehire all the workers they had in late February. But owners say the equation isn't so simple, in part because of current economic conditions and partly due to the terms of the loans.
Senate Democratic Leader Chuck Schumer said Tuesday agreement has been reached on major elements of a nearly $500 billion coronavirus aid package for small businesses, as well as additional help for hospitals and virus testing.
Restaurant chains Shake Shack, Ruth's Chris Steakhouse and Potbelly's announced last week they'd obtained loans worth a combined $40 million.
Less than two weeks after the Paycheck Protection Program opened on April 3, the program Laurel Hess applied to for help had all but run out of money.
Senate Democrats would like to see some of that aid be funneled to community-based financial institutions that serve farmers, family, women, minority and veteran-owned small businesses; hospitals; and state and local governments.
Wolf said his order would be enforced by state troopers, local officials, the state Health and Agriculture departments and the Liquor Control Board.